MATH 534 APPLIED MANAGERIAL STATISTICS (MATH534)

MATH 534 Week 7 Discussion Predictive Analytics Predictive analytics in business is an important application of multiple regression analysis.Generallyspeaking,whatismeantbypredictiveanalytics?Asabusinessowner,howcouldyouuseregressionanalysisand predictive analyticsto increase your company'ssales?

MATH 534 Week 7 Course Project Final Part C Regression and Correlation Analysis For this regression analysis we will choose X1-calls as Independent Variable and Y-Sales asDependentVariable.ThereasonbehinditisbecausethecorrelationcoefficientbetweenTimeandYearswith Salesisweakerthan Callswith Sales.

2 Determine the Pearson product-moment correlation coefficient for the following data.x 3 Given a set of paired data,{X,Y},if Y is independent of X , you would expect that the correlation

1. Whichofthefollowingisnotanassumptionoftheregressionmodel? 2. Supposeforagivendatasettheregressionequationis:y=54.78+1.45x, and the point (0.00, 24.78) is in the data set. The residual forthispointis . 3. If the standard error of the estimate for a regression model fitted toalargenumberofpairedobservationsis1.75,approximately68%oftheresidualswouldliewithin . 4. Foraregressionmodely=30−2x,thecoefficientofdeterminationwasdeterminedasequalto0.81.Thecoefficientofcorrelationis

3 If the correlation coefficient between variables X and Y is roughly zero, then 6 In the equation y = m x + b, which represents a straight lime, b is the 7 If the relationship between y and x is given by the equation y = 1.57 − 0.0407 x, the slope coefficient 0.0407 means this for every unit increas

MATH 534 Week 6 Quiz (v1) 1. Avalueof-1forthecoefficientofcorrelationbetweentwovariablesmeansthatthetwovariablesare . 2. Ifthereis positivecorrelationbetweentwosets ofnumbers,then 3. If the correlation coefficient between variables X and Y is roughlyzero,then . 4. Determine the Pearson product-moment correlation coefficient forthefollowingdata.

MATH 534 Week 6 Discussion Regression Analysis Suppose you are given data from a survey showing the IQ of each person interviewed and the IQof his or her mother. That is all the information that you have. Your boss has asked you to puttogether a report showing the relationship between these two variables. What could you present,and why?

ThisisProjectPartB:HypothesisTestingandConfidenceIntervals.Inthispartofproject,wewill conduct Hypothesis Testing for a few of variables and data set. Confidence Intervals willalso befound for thosevariables. 2. Compute99%confidenceintervalsforTrainingTypeusedinhypothesistestandinterpret theseintervals.

MATH 534 Week 6 Addendum Homework-Quiz Review b. Whatisthe90%confidenceintervalforchildrenwhoare12yearsold?Answer:(18.92, 21.72) 13. Hypothesistestsforindividualregressioncoefficients(i.e.B0,B1)modeluset-tests. 9. We want to predict weight (y) based on height (x).The following equation shows therelationship:ŷ=70+1.3x.Ifsomeoneis65inchestall,whatwouldthepredictedweightbe?Answer:154.5

MATH 534 Week 6 Discussion Regression Analysis (Keller) Here,wearetalkingaboutregressionanalysis.Regressionanalysisreferstoa statisticalmethodofmodelingtherelationshipsbetweendifferentvariables(dependentand independent). It is used to describe and analyze relationships between data. Also,the regression analysis is used to make predictions, the relationships between databeingusedasabasis forforecastinganddesigningapredictionmodel.